EU eyes Mercosur pact as strategic hedge against U.S. protectionism

China is the first large country to introduce far-reaching counter-tariffs on US products. EU trade ministers will be discussing the next Monday about further action. Austria's responsible Minister for Economic Affairs Wolfgang Hattmannsdorfer wants to promote free trade agreements with other regions – including Mercosur.

The members of the bloc who doubted, like Italy, the Netherlands and Poland, now join in the idea of signing.France would be without allies against the agreement.

The 10% tariff imposed by the US on Mercosur countries leaves the group outside the most affected markets, but it could push its members to look more at Europe and Asia. In dialogue with Sputnik, economist Juan Valerdi said that the block "would be stronger" with a unique stance on the US, but it is difficult to happen.

BR-SSEL/VIENE. In view of the uncertainties surrounding the new US case, the EU intends to accelerate the conclusion of a trade agreement with the US Mercosur countries.

In view of the uncertainties surrounding the new US tariffs, the EU wants to accelerate the conclusion of a trade agreement with the South American Mercosur states. In Austria, it has always been very controversial, but ÖVP's Minister for Economic Affairs Wolfgang Hattmannsdorfer (ÖVP) is now in favour. The smallest coalition partner NEOS has always been in favour of the SPÖ, which has always opposed it.

The European Commission has signed the Mercosur Agreement. According to its spokesman Olof Gill, the Commission intends to persuade all EU countries to agree to an agreement with the countries of South America. “In an increasingly volatile geopolitical reality, having strong agreements with trusted partners around the world that benefit both parties is more important than ever,” Gill said. “That is why we will certainly invest a lot of time and …